Argentina rejects sale of Nextel stake to Clarin media group
BUENOS AIRES, Sept 25 (Reuters) - Argentina's telecommunications regulator on Friday rejected the sale of a stake in Nextel Argentina to the media group Clarin that had been sealed ten days ago for $178 million, saying Clarin had not sought the necessary approvals.
Nextel is a subsidiary of NII Holdings Inc, a Latin American mobile service provider, that emerged from bankruptcy protection in June. NII Holdings had said proceeds of the deal would be used to bolster its operations in Brazil.
"The board decided that the operation carried out on Sept. 14 of 2015, by which Nextel Communications Argentina sold 49 percent of its capital, violates article 13 of the law 27.078, because it was done without previous authorization," the AFTIC regulatory body said in a statement.
Argentina's government has frequently clashed with Clarin since the group criticized it over its handling of farmers' protests in 2008. (Reporting by Nicolas Misculin; Writing by Sarah Marsh; Editing by Andrew Hay)
© Thomson Reuters 2017 All rights reserved.